EPF Interest: Why Interest Credited into EPF Account is Not Visible
The finance Ministry has said that there will be no loss of interest rate for Employees' Provident Fund Organisation (EPFO) subscribers,
And the delay in crediting interest rate for FY22 is due to a software upgrade due to tax changes implemented last year.
In June, the government approved the interest rate on EPF deposits of 8.1 percent for 2021-22, down from 8.5% the previous year.
According to the latest tweet by the Ministry of Finance, "There is no loss of interest for any subscriber."
According to the latest tweet by the Ministry of Finance, "
There is no loss of interest for any subscriber.
"
The interest is being credited in the accounts of all
EPF
subscribers
"That is not visible in the statements in view of a software upgrade being implemented by EPFO to account for change in the tax incidence."
The interest is being credited in the accounts of all EPF subscribers.
However, that is not visible in the statements in view of a software upgrade being implemented by EPFO to account for change in the tax incidence.